I used to keep my cash idle. Now I invest the halal way.

Hi Rofiat, can you please start by telling us a bit about yourself and your background?

My name is Rofiat Abdurrazaq. I’m a Muslim and a Business Intelligence Analyst from a middle-class Nigerian family. Growing up, my parents instilled in me the value of contentment and careful spending. Those early lessons shaped how I view money, not as a symbol of wealth, but as a tool for responsibility and growth rooted in faith. For me, financial wellness isn’t just about numbers; it’s about earning, spending, and investing with purpose.

That’s such a powerful foundation from your parents. I deeply commend them.

We’d love to hear about the genesis of your financial awareness. When and how did your journey toward financial responsibility truly begin?

My journey actually started quite early, around age seven. I used to save part of my food money in a small drawer. One day, my dad noticed and borrowed some, then returned it with extra. That little gesture encouraged me to keep saving, especially since I knew I’d get more when he borrowed again.

I still remember the first time I counted ₦1,000 in small denominations of ₦5, ₦10, ₦20, and ₦50. I was so proud! It felt empowering to know I could buy whatever snack I wanted and still save more. Without realizing it, that habit shaped my attitude toward money, it made saving feel natural, even as I grew older and started earning.

Learning about money from such a young age is truly a privilege. It’s beautiful to see how those early experiences shaped your financial journey.

Speaking about your core beliefs, how does your faith influence your perspective on money and the pursuit of wealth?

My faith plays a huge role. Islam is not just about prayers; it guides how we earn, spend, and view wealth. The Qur’an clearly warns against Haram (forbidden) sources of income—like interest, bribery, gambling, or profits from prohibited products.

It’s easy to be tempted by such sources because they often promise quick returns. But Islam teaches that wealth from Haram means no true benefit, neither in this world nor the Hereafter. To me, money isn’t just a personal asset; it’s a trust from Allah, a means to do good and earn His pleasure.

You’re absolutely right. Islam is a complete way of life, and one of its beauties is how it protects us from financial practices that cause moral and social harm.

What inspired your journey toward managing your finances according to halal principles?

I have always been passionate about growing my money. Saving came easy, but investing was tricky because most available options involved interest. I wanted my money to grow, but I didn’t want to compromise my beliefs. That desire to stay true to my faith while still being financially smart is what drew me to halal investing.

That’s admirable. Not everyone develops strong money values early on, and sticking to them takes discipline.

So, in your own words, how do you personally define Halal investing, and what makes this approach so important to you?

For me, halal investing means putting your money into Shariah-compliant ventures, where you earn profit, not interest. It’s about ethical growth, ensuring the businesses or funds you support align with Islamic principles.

It’s important to me because it allows me to multiply my wealth while maintaining peace of mind. I know my money isn’t supporting something Haram, and that gives me both spiritual and financial confidence.

That’s a beautifully simple and powerful definition.

Can you share how you discovered the halal products you currently put your money into?

I discovered Altinvest through a conversation with my friend and community coach, Hafsat. I must say, she is one of the gifts my master’s journey gave me. I was lamenting about how most investments were either scams or interest-based, and she told me about Altinvest. That changed everything.

It’s been a game-changer. I earn up to 15% profit, not interest, because the platform invests in ethical markets like Sukuk and real estate, all compliant with Shariah.

A 15% profit truly challenges the misconception that halal investing means lower returns.

Is there a success story from one of your halal investments you would like to share?

There are a few! I’ve practically become a brand ambassador for Altinvest among my family and friends. I even convinced my mum to try it. She was skeptical at first, so I promised to refund her if anything went wrong. When her investment matured and I showed her the profit, she shouted with excitement, “Ayomide ti fun mi ni salary ni on the 1st!” (“Ayomide has paid me a salary on the first of the month!”). She immediately told me to reinvest her capital and just send her the profit.

Another friend had lost money in an agricultural venture due to flooding and was scared to invest again. I encouraged him to try halal investing, and now he’s grateful he did.

Honestly, this is the kind of testimony that speaks louder than any marketing.

What halal investment options have you explored so far?

I have explored ethical Sukuk, Mudarabah, real estate, and gold (all possible with Altinvest). Recently, I have become more open to calculated risks, so I also invest in stocks of companies with halal products like food and aviation, among others.

Hafsat recently shared nine halal investment options in her e-book “Halal Investing.” I’m proud to be one of the people who inspired its creation and one of its first readers.

You are definitely one of our first readers and we are proud of that.

What financial lessons have you learned the hard way?

My biggest mistake was keeping large sums of money idle for too long. I thought I was being safe, but in reality, I was losing value through inflation. That experience taught me that financial “safety” without growth is actually silent loss.

Another is to always verify and do your research before you put your money into anything. I have invested in an agric venture that didn’t succeed.

Never lend anyone money you cannot give away. If you know you become emotional easily, don’t even listen to their story. Know it and know peace. People are unpredictable: they are very nice and humble when borrowing, but can be difficult when it is time to repay.

Lastly, no friendship in business. If your friends cannot support your business, they have no right to set you back. I was selling plantain chips during my NYSC. One friend was one of my biggest clients; she collected on credit sometimes and paid sometimes. One pack of chips was ₦50, and she still owes almost ₦5,000 to date, just like a couple of others I lent money to out of pity and emotion.

These lessons are raw, honest, and very necessary.

Can you share one or two common misconceptions about Islamic finance that you’ve encountered? What’s your go-to explanation for setting the record straight?

One major misconception is that Islamic finance means lower returns or limited options. In truth, it offers sustainable and ethical alternatives that may take time but bring long-term value. I address it by sharing my own results and encouraging others to research credible halal finance sources.

That’s right! Sharing your results is definitely the best way to inspire and encourage others to finally start their own Halal investment journey.

What final advice would you offer to Muslims who want to manage their finances in a more halal and responsible way?

Start small but start now. Learn the basics of Islamic finance, open a halal account, and seek guidance from scholars or trusted financial advisors (I strongly recommend Hafsat, the Money Woman). Remember that your intention matters: when your goal is to earn ethically, Allah puts barakah in your wealth.

That is a fantastic final piece of advice for anyone starting out in Halal investing!